Freestanding Storefront
For Sale
$800,000
2 Clinton St, Newton, NJ 07860
Freestanding commercial building configured for dry-cleaning operations with specialized processing equipment.
Property Size3,800 SF
Lot Size0.11 Acres
Price / SF$210.53
Days on Market96
Property Features for 2 Clinton St
General Information
Standard status
Active
Size
3,800 SF
Lot size
0.11 Acres
Property subtype
Commercial
Financials
Asking Price
$800,000
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$9,889
Amenities
Asphalt Shingle Roof
Baseboard - Hotwater Heating
Driveway-Exclusive
Forced Hot Air Heating
Rubberized Roof
Building Details
Year Built
1940
Buildings
1
Tenancy
Single
Listing Agency:
REALTY 7 LLC
(201) 292-7777
Listed By:
JAMES LEE
Source:
Corcoran
Added: May 27
Changed: Aug 29
Last Checked: Aug 29 at 4:09PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of REALTY 7 LLC
Investment Insights
Based on property information with market context.
This freestanding storefront property at 2 Clinton St in Newton Town, New Jersey, is configured as a dry-cleaning plant and includes specialized operational equipment. The improvements date to 1940 and occupy a 5,000-square-foot lot. Existing equipment includes a 60LB Unisec Hydro Carbon machine, 12 shirt units, 12 utility presses, and a 20 HP boiler.
The property is offered for sale with an established dry-cleaning operation associated with the site. Its storefront format and existing plant infrastructure provide a defined commercial configuration for continued dry-cleaning use.
The property is offered for sale with an established dry-cleaning operation associated with the site. Its storefront format and existing plant infrastructure provide a defined commercial configuration for continued dry-cleaning use.
Key Highlights
- Freestanding storefront property on a 5,000‑square‑foot lot
- Configured dry‑cleaning plant with specialized operating equipment
- 60LB Unisec Hydro Carbon machine included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$54,238
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,084,760
$1.1M
Cap Rate 7%
$774,829
$774.8K
Cap Rate 9%
$602,644
$602.6K
Market Conditions
NOI Build-Up for 3,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$82.1K $21.60/SF
− Vacancy
−$4.6K −$1.21/SF
EGI
$77.5K $20.39/SF
− OpEx
−$23.2K −$6.12/SF
NOI
$54.2K $14.27/SF
Area
Sussex County, NJ
Vacancy
5.60%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,084,760
Cap Rate 7%
$774,829
Cap Rate 9%
$602,644
Alternative Uses
Best Use
Retail
$774.8K
$678.0K – $904.0K
NOI $54,238 @ 7.0% cap · market cap 6.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$992.3K
$868.2K – $1.16M
NOI $69,458 @ 7.0% cap · market cap 8.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,039
Businesses Nearby
193k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Apparel 22%
Home Improvements & Furnishings 15%
Shops & Services 11%
Kohl's
Apparel
41,899 visits/mo
0.5 miles
The Home Depot
Home Improvements & Furnishings
29,382 visits/mo
0.3 miles
Weis Markets
Groceries
19,119 visits/mo
0.4 miles
Dunkin' Donuts
Dining
18,428 visits/mo
0.4 miles
Starbucks
Dining
17,275 visits/mo
0.5 miles
Demographics for 07860, NJ
25,704
Population
11,473
Households
2.2
Avg Household Size
46
Median Age
40%
College-Educated
95%
High-School Grad
100.2 sq mi
ZIP Area
257
Density / Sq Mi
$104,113
Median Household Income
$53,509
Median Earnings
$1,437
Median Rent
$336,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Wildflowers of Sussex County — 225 Spring St, Newton, NJ 07860
- Newton Flower Delivery — Hill Ter, Newton, NJ 07860
Frequently Asked Questions
What type of property is this?
Storefront property - Freestanding commercial building configured for dry-cleaning operations with specialized processing equipment.
Where is this storefront property located?
The property is located at 2 Clinton St Newton, NJ.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Freestanding storefront property on a 5,000‑square‑foot lot; Configured dry‑cleaning plant with specialized operating equipment; 60LB Unisec Hydro Carbon machine included
